Because near term options really need a catalyst ... and hope is not a catalyst...
... leaps might give you some nice ... um ... options! If it takes a turn for the worst, you could take a smallish hit and sell the theta. If it sits around at these levels ... you could sell calls on your calls in a calendar spread. Or sell one strike above your calls ... let's call that a vertical calendar spread... out of the money... month after month until you start seeing some interesting changes in the Greeks. I wouldn't just buy calls in lieu of the stock if there isn't any interest in either ... and no current news. With options, you need to be right quickly... otherwise your daily option value decline will just pick away at you... like water torture.SAM....you words show truth towards the whims of option trader but I take the pain further in that I prefer to use them with biotechs for the bigger bang in the future...NKTR loss its chance for a near term catalysts because PFE did not show great upstart sales with its new drug "EXUBERA" (which is administered with NKTR application device) during PFE earning conference. This device is key to NKTR future...
YOU DIDN'T ASK BUT....a stock waiting for FDA approval on its cancer treatment soon will be a bigger gangbuster in the cancer treatment but its a one horse show if it fails then its atmost penny stock instend of 100/sh....DNDN look at the research, FDA soon as its on fast track review....
